Judge Approves Sale Of 3 James River Coal Mines
RICHMOND, Va. (AP) — A bankruptcy judge has approved the sale of three James River Coal Co. mining complexes to a subsidiary of Kentucky-based Blackhawk Mining LLC.
The sale includes the Hampden complex in West Virginia, including the assets of Logan & Kanawha Coal Co. LLC; the Hazard complex in Kentucky, excluding the assets of Laurel Mountain Resources LLC; and the Triad Mining complex in Indiana.
Blackhawk subsidiary JR Acquisition LLC will pay $20 million in cash and assume $32 million in liabilities.
The operations employ about 900 workers.
The Richmond Times-Dispatch (http://bit.ly/1tUdyKU ) reports that U.S. Bankruptcy Kevin R. Huennekens approved motions enabling James River to sell the mines on Tuesday. The company plans to complete the sale by the end of the week.
Richmond-based James River filed for Chapter 11 bankruptcy in April.